Coinbase Ventures Co-Leads $8M Seed Round for Solana NFT Creator Platform DRiP

DRiP, a Solana-based NFT creation platform, has raised $8 million in a seed round co-led by Coinbase Ventures, NFX, and Progression, with additional support from Placeholder, 6th Man Ventures, and over 30 other investors. The platform, designed to empower creators by allowing them to distribute their digital assets—such as exclusive images, videos, and audio—on the Solana blockchain, plans to use the new funding to expand its creator tools, accelerate user onboarding, and launch its mobile app for both Android and iOS by July.

DRiP offers creators a new model for monetization by leveraging Solana’s low transaction fees, allowing fans to tip creators with micropayments. Co-founder Vibhu Norby highlighted the platform's goal to provide fair monetization for creators while offering fans access to owned premium content that can't be censored or removed. This direct creator-fan interaction bypasses traditional platforms like YouTube and Instagram, which DRiP argues take too much value from creators.

The platform aims to reshape digital art, music, gaming, and storytelling by fostering a community that empowers creators and amplifies underrepresented voices. Progression co-founder Mark Linao emphasized that DRiP could become a pivotal space for creators, akin to how YouTube stars have influenced mainstream culture, positioning DRiP creators to shape the future of digital content creation.

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